Vale’s EBITDA in Q2 could reach $2 billion if iron ore performs well, according to a forecast by Brazilian bank Itau BBA.
Analysts expect that higher volumes of iron ore as well as a reduction in the company’s costs will benefit the Brazilian iron ore producer.
“Such a result could put the company in a way that it could reach our EBITDA forecast for 2015, which is $7.7 billion,” Itau BBA said in a report this week. According to the bank, it expects Vale will post higher volumes of iron ore in Q2. Vale is expected to release its Q2 results on July 30.